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US issuers and insurance companies could benefit as Moody’s relaxes parts of its approach
Investors attracted by relative value versus loans but are not blind to risk
Floridian manager registered the vehicle in Ireland with article 8 SFDR classification
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Reliance Communications’ 2020 bond, which the company defaulted on last year, suffered a tumultuous week, hitting a new low after the telecoms company offered to buy back the $300m senior notes at a steep discount. -
Elon Musk’s sensational claim to have funding in place to take Tesla private stunned the US capital markets this week, but the lack of substantive detail to the plan has largely reversed an initial rally in the firm’s equity and debt instruments, as well as reportedly drawing the attention of the Securities Exchange Commission. Aidan Gregory and David Bell report.
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UK Prime Minister Theresa May may have rebuked her International trade secretary Liam Fox for his suggestion the chances of no-deal Brexit were now 60-40, but bookmakers Boyle Sports has exactly those odds for those who want to put any money on it. If that is the likely outcome now, what will it mean for the execution of bond deals?
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BMC Software was set to print $2bn of triple-C rated bonds this week, as it changes sponsor hands from Bain and Golden Gate to KKR. The new owner was also pushing for some of the loosest covenants in the market.
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Tsinghua University Science Park, or Tuspark, raised $350m from its bond sale on Wednesday, notably helped by 14 bookrunners.
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Buyers of speculative grade debt in Europe have entered August with renewed confidence and the hope that spreads can hold their recent widening during the second half of the year.
